This is Bob, Bob is in a band, with Alice, Charlie, David and Erin. Bob’s band is the The Biloxi Barn Burners
They work very hard and make great music which they publish to many Internet platforms. They have quite a few listeners and fans, but because of the way the system is set up, they receive very little money for their efforts.
One day Bob was at a Bitcoin conference and learned about a new way for bands to earn money using Bitcoin and something called value for value. He learns that all he needs is a bitcoin lightning wallet, an RSS feed, a web host and an mp3 file.
He even does some research about the value for value model at value4value.info
Eager to try this new system out he gets a Bitcoin lightning wallet and encourages Alice, Charlie, David, and Erin to do the same.
Then he creates an RSS feed for their first album using a free online tool at musicsideproject.com and sets up a payment split on each song to give 18% to each of the 5 band members. A 5% split is given to musicsideproject.com for making the tool that creates the RSS feed and the remaining 5% to IPFSPodcasting.net for distributed file hosting services.
Note: Giving splits to others is totally optional but it’s really nice. Also IPFSPodcasting isn’t covered in this article but there will be one about it soon.
He publishes his RSS feed as well as the mp3 files and artwork for their album on their website BiloxiBarnBurners.com
Music Side Project submits his album to podcastindex.org, which is a directory containing over 4.2 million podcasts.
Through the magic of podping and RSS other music sites such as lnbeats.com automatically sees that a new music album has been published and makes it available for anyone to listen to. Since he decided to donate a 5% split to Music Side Project lnbeats.com features his album on the front page.
His album even shows up when searching in his favorite modern podcast app.
The Biloxi Barn Burner’s music is now published to the whole world.
Now all Bob needs to do is educate his fans to use a modern podcast app to listen to The Biloxi Barn Burner’s music.
He does this by advertising it on the band’s social media, doing interviews, talking with his friends and generally spreading the word however he can.
Jane is a lover of music. She discovers The Biloxi Barn Burners while listening to random songs on lnbeats.com. She really is digging their song “I got The Not Your Keys, Not Your Bitcoin, Rug Pull Blues” and decides to send them some support.
She taps on the boost button and boosts 10,000 in satoshis towards the song.
Now something almost magical happens.
Jane’s podcast app, LNbeats reads the Biloxi Barn Burners RSS feed and notices that when someone boosts this song the amount is to be divided up.
- 18% to Alice
- 18% to Bob
- 18% to Charlie
- 18% to David
- 18% to Erin
- 5% to Music Side Project
- 5% to IPFSPodcasting.net
LNbeats then instructs Jane’s bitcoin wallet to send 7 total payments. 5 payments of 1800 satoshis to each of the band members and a payment of 500 satoshis to musicsideproject.com and 500 satoshis to IPFSPodcasting.net
Jane has just paid from her own bitcoin wallet to each member of the band directly. No middlemen involved, no royalty companies, no record contracts. Just direct value for value transfer from listener to musician.
At this point the future is uncertain as to how much the The Biloxi Barn Burners will earn but one thing for certain is that they are getting a much larger percentage of their earnings than they could get anywhere else in the industry.
To learn more visit v4vmusic.com